Brokerages Set Similarweb Ltd. (NYSE:SMWB) Price Target at $10.60

Shares of Similarweb Ltd. (NYSE:SMWBGet Free Report) have been given a consensus recommendation of “Buy” by the six ratings firms that are presently covering the stock, Marketbeat reports. Six analysts have rated the stock with a buy rating. The average 1-year target price among brokers that have issued a report on the stock in the last year is $10.60.

SMWB has been the subject of several research analyst reports. JMP Securities restated a “market outperform” rating and set a $14.00 price target on shares of Similarweb in a research report on Friday, March 15th. Barclays upped their price target on shares of Similarweb from $8.00 to $9.00 and gave the stock an “overweight” rating in a research report on Thursday, February 15th. William Blair reaffirmed an “outperform” rating on shares of Similarweb in a research note on Tuesday, March 5th. Citigroup raised shares of Similarweb from a “neutral” rating to a “buy” rating and upped their price objective for the company from $6.00 to $10.00 in a research note on Thursday, February 15th. Finally, Jefferies Financial Group reaffirmed a “buy” rating and set a $10.00 price objective on shares of Similarweb in a research note on Wednesday, February 7th.

Read Our Latest Stock Analysis on SMWB

Similarweb Stock Performance

Shares of Similarweb stock opened at $7.77 on Friday. The firm has a 50-day simple moving average of $8.38 and a two-hundred day simple moving average of $6.46. The company has a market cap of $611.11 million, a P/E ratio of -21.00 and a beta of 0.68. Similarweb has a fifty-two week low of $4.58 and a fifty-two week high of $9.76.

Similarweb (NYSE:SMWBGet Free Report) last released its quarterly earnings results on Tuesday, February 13th. The company reported ($0.04) earnings per share for the quarter, topping the consensus estimate of ($0.05) by $0.01. Similarweb had a negative net margin of 13.47% and a negative return on equity of 203.38%. The firm had revenue of $56.76 million during the quarter, compared to the consensus estimate of $55.90 million. Equities research analysts forecast that Similarweb will post -0.2 EPS for the current year.

Institutional Trading of Similarweb

Several hedge funds have recently made changes to their positions in SMWB. Y.D. More Investments Ltd purchased a new stake in shares of Similarweb in the 3rd quarter valued at approximately $8,960,000. North Run Capital LP purchased a new stake in shares of Similarweb in the 4th quarter valued at approximately $2,411,000. Baader Bank Aktiengesellschaft purchased a new position in shares of Similarweb during the 4th quarter worth approximately $1,588,000. Scalar Gauge Management LLC purchased a new position in shares of Similarweb during the 4th quarter worth approximately $1,188,000. Finally, Phoenix Holdings Ltd. boosted its position in shares of Similarweb by 5.2% during the 3rd quarter. Phoenix Holdings Ltd. now owns 4,208,475 shares of the company’s stock worth $27,271,000 after purchasing an additional 206,199 shares during the period. Hedge funds and other institutional investors own 57.59% of the company’s stock.

Similarweb Company Profile

(Get Free Report

Similarweb Ltd. provides cloud-based digital intelligence solutions in the United States, Europe, the Asia Pacific, the United Kingdom, Israel, and internationally. The company offers digital research intelligence solutions for its customers to benchmark performance against competitors and market leaders, analyze trends in the market, conduct deeper research into specific companies, and analyze audience behavior; and digital marketing intelligence solutions for its customers to understand their competitors' online acquisition strategies in each marketing channel, and optimize their own strategies.

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Analyst Recommendations for Similarweb (NYSE:SMWB)

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